Mining and exploration company Independence Group (ASX:IGO ) has reported its net profit after tax (NPAT) decreased by 84 per cent to $3.2 million for the half year to December 2017.
Meantime, the company delivered revenue growth of 59 per cent on the same period the previous year to $355 million.
Independence Group's underlying earnings (EBITDA) margin also increased by 63 per cent to $133 million.
The directors have declared an interim dividend of 1 cent per share fully franked
The company says net profit was lower than expected due to $70 million dollar depreciation and amortization changes of the Nova operation.
Shares in IGO (ASX:IGO) closed down 0.82% to $4.86